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Our borrower was sent to us because his original loan officer had a bit of a "can't do it" meltdown and bailed mid-transaction. The excuse? "The underwriter won't approve your income from these taxes." Classic. So, we looked at the borrower’s tax returns and the problem wasn't the income—it was that the loan officer didn’t understand the expenses of his investment properties. The underwriter assumed they were recurring losses instead of one-time renovation costs. Yikes. We took the same docs, added an explanation for those “mysterious” expenses, and sent it to a new lender. Bam, APPROVED. In just 16 days, the borrower closed on his home in Naples, FL. Moral of the story? You tell me.

Property Details

Price: 590,000

City: Naples

State: FL

Zip Code: 34104

Year Built: 1993

Square Footage: 2000

Beds: 3

Baths: 2